Market Config Reference

This is the canonical reference for LendingMarket — the on-chain struct that holds market-level settings. Field names below use snake_case as they appear in the JSON returned by download-lending-market-config (which mirrors the on-chain Rust struct directly). For guidance on which fields to set, see Market settings and the topic-specific guides linked below.

Identity and naming

Field	Type	Description
`version`	u64	Program version, fixed at init
`bump_seed`	u64	PDA bump seed. Set at init
`name`	UTF-8 string (≤32 bytes)	Human-readable market name. Editable via `update-lending-market-name` or full config update
`quote_currency`	UTF-8 string (≤32 bytes)	Reference unit prices are denominated in. Almost always `"USD"`

Ownership

Field	Type	Description
`lending_market_owner`	Pubkey	Active market owner. Authorized for all updates
`lending_market_owner_cached`	Pubkey	Staging slot for ownership transfer. The current owner sets it; only that pubkey can finalize the swap via `update-lending-market-owner`
`emergency_council`	Pubkey	Optional separate authority for emergency-only handlers (e.g., `socialize_loss`)
`proposer_authority`	Pubkey	Authority that can propose certain config updates without holding full owner privileges
`immutable`	u8 (bool)	If `1`, all owner-side updates are permanently disabled. Irreversible.

Feature flags

Field	Type	Description
`borrow_disabled`	u8 (bool)	If `1`, new borrows are rejected market-wide. Existing positions continue
`emergency_mode`	u8 (bool)	If `1`, market-wide emergency mode
`autodeleverage_enabled`	u8 (bool)	If `1`, enables auto-deleverage market-wide. Per-reserve flag must also be set
`price_triggered_liquidation_disabled`	u8 (bool)	If `1`, blocks all price-triggered liquidations
`mature_reserve_debt_liquidation_enabled`	u8 (bool)	If `1`, allows liquidations of mature fixed-term debt
`obligation_borrow_debt_term_liquidation_enabled`	u8 (bool)	If `1`, enables term-based liquidation flow specifically

Withdrawal queue

Field	Type	Description
`withdraw_ticket_issuance_enabled`	u8 (bool)	If `1`, users can call `enqueue-to-withdraw`
`withdraw_ticket_redemption_enabled`	u8 (bool)	If `1`, users can call `withdraw-queued-liquidity`
`withdraw_ticket_cancellation_enabled`	u8 (bool)	If `1`, users can call `cancel-withdraw-ticket`
`min_withdraw_queued_liquidity_value`	u64	Minimum USD value (scaled fraction) for a single ticket. Below this, `enqueue-to-withdraw` reverts

See Withdrawal queue.

Borrow orders

Field	Type	Description
`borrow_order_creation_enabled`	u8 (bool)	If `1`, users can call `set-borrow-order`
`borrow_order_execution_enabled`	u8 (bool)	If `1`, lenders can call `fill-borrow-order`
`min_borrow_order_fill_value`	u64	Minimum USD value (scaled fraction) for a single fill

See Borrow orders.

Obligation orders

Field	Type	Description
`obligation_order_creation_enabled`	u8 (bool)	If `1`, users can call `set-obligation-order`
`obligation_order_execution_enabled`	u8 (bool)	If `1`, executors can call `fill-obligation-order`

See Obligation orders.

Fixed-term rollover

Field	Type	Description
`fixed_term_rollover_window_duration_seconds`	u64	Window before maturity allowing fixed→fixed rollover. `0` disables
`open_term_rollover_window_duration_seconds`	u64	Window before maturity allowing fixed→open rollover. `0` disables
`obligation_borrow_migration_to_fixed_execution_enabled`	u8 (bool)	If `1`, allows open→fixed migration anytime
`obligation_borrow_rollover_configuration_enabled`	u8 (bool)	If `1`, allows borrowers to pre-configure rollover behavior
`min_partial_rollover_value`	u64	Minimum USD value for a partial rollover. `0` requires full rollovers only
`term_based_full_liquidation_duration_secs`	u64	Time after maturity before full (close-factor-bypassing) liquidation is available. `0` disables

See Fixed rate reserves.

Liquidation tunables

Field	Type	Description
`liquidation_max_debt_close_factor_pct`	u8 (0–100)	Maximum portion of debt liquidatable per round
`max_liquidatable_debt_market_value_at_once`	u64	Hard ceiling on market value liquidated per liquidation
`min_full_liquidation_value_threshold`	u64	Below this debt market value, the close-factor cap is bypassed
`insolvency_risk_unhealthy_ltv_pct`	u8 (0–100)	LTV threshold for the insolvency-risk auto-deleverage path
`min_value_skip_liquidation_ltv_checks`	u64	Below this market value, skip LTV health checks during liquidation
`min_value_skip_liquidation_bf_checks`	u64	Below this market value, skip borrow-factor health checks
`individual_autodeleverage_margin_call_period_secs`	u64	Default grace period (seconds) between margin call and forced liquidation

See Liquidations and Auto-deleverage.

Elevation groups

"elevation_groups": [
  {
    "id": 1,
    "ltv_pct": 90,
    "liquidation_threshold_pct": 92,
    "max_liquidation_bonus_bps": 200,
    "allow_new_loans": 1,
    "max_reserves_as_collateral": 8,
    "debt_reserve": "<DEBT_RESERVE_PUBKEY>"
  }
  // ... up to 32 entries
]

Field	Type	Description
`id`	u8 (1–32)	Group identifier. `0` is the “no group” sentinel
`ltv_pct`	u8 (0–100)	Group LTV; replaces per-reserve LTV for in-group positions
`liquidation_threshold_pct`	u8 (0–100)	Group liquidation threshold
`max_liquidation_bonus_bps`	u16	Cap on liquidator bonus inside the group
`allow_new_loans`	u8 (bool)	`0` blocks new borrows in the group; existing positions persist
`max_reserves_as_collateral`	u8	Maximum distinct collateral reserves a group-position may hold
`debt_reserve`	Pubkey	Single permitted debt asset for the group

See Elevation groups.

Position thresholds

Field	Type	Description
`min_initial_deposit_amount`	u64	Minimum amount required for a brand-new deposit to a reserve
`min_net_value_in_obligation_sf`	u128 (scaled fraction)	Minimum USD value an obligation must hold after any operation
`global_allowed_borrow_value`	u64	Maximum total borrow value across all users on the market

Fees

Field	Type	Description
`referral_fee_bps`	u16	Referral fee in basis points, shared with registered referrers

Oracle policy

Field	Type	Description
`price_refresh_trigger_to_max_age_pct`	u8 (0–100)	Percentage of `maxAgePriceSeconds` at which off-chain bots refresh proactively. `0` = on-demand only

Runtime / read-only

These fields are program-managed and not user-editable:

Field	Type	Description
`version`	u64	Program version
`bump_seed`	u64	PDA bump
`reserved0`, `reserved1`, `padding1`, `padding2`, `elevation_group_padding`	varies	Struct alignment / future-use slots

Reading the live config

yarn kamino-manager download-lending-market-config \
  --lending-market <MARKET_ADDRESS>

For market + every reserve in one call:

yarn kamino-manager download-lending-market-config-and-all-reserves-configs \
  --lending-market <MARKET_ADDRESS>

Reference

Market settings — the workflow for editing these fields
Reserve config reference — per-reserve fields
CLI command index — all market-related commands

Get started

Market setup

Reserve setup

Optional features

Day-2 operations

Data & integration

Reference

Market Config Reference

Identity and naming

Ownership

Feature flags

Withdrawal queue

Borrow orders

Obligation orders

Fixed-term rollover

Liquidation tunables

Elevation groups

Position thresholds

Fees

Oracle policy

Runtime / read-only

Reading the live config

Reference

​Identity and naming

​Ownership

​Feature flags

​Withdrawal queue

​Borrow orders

​Obligation orders

​Fixed-term rollover

​Liquidation tunables

​Elevation groups

​Position thresholds

​Fees

​Oracle policy

​Runtime / read-only

​Reading the live config

​Reference

Identity and naming

Ownership

Feature flags

Withdrawal queue

Borrow orders

Obligation orders

Fixed-term rollover

Liquidation tunables

Elevation groups

Position thresholds

Fees

Oracle policy

Runtime / read-only

Reading the live config

Reference